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Question
The following regression model has been proposed to predict sales at a fast food outlet.
= 18 " 2x1+ 7x2+ 15x3where
x1= the number of competitors within 1 mile
x2= the population within 1 mile (in 1,000s)
x3= 1 if drive-up windows are present, 0 otherwise
= sales (in $1,000s)a. What is the interpretation of 15 (the coefficient of x3) in the regression equation?
b. Predict sales for a store with 2 competitors, a population of 10,000 within one mile, and one drive-up window (give the answer in dollars).
c. Predict sales for the store with 2 competitors, a population of 10,000 within one mile, and no drive-up window (give the answer in dollars).
Answer
This answer is hidden. It contains 100 characters.
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